Deloitte Report: 73% of Chinese companies regard blockchain as a strategic priority

Deloitte Report: 73% of Chinese companies regard blockchain as a strategic priority

The study was conducted between February 8 and March 4, 2019. According to the survey results, Chinese employees firmly stated that blockchain technology is one of the country's five key priorities, while the United States has only 56% of the same indicators.

Paul Sin, leader and consulting partner of the Diller's Asia-Pacific blockchain laboratory, pointed out in the report that China will "implement the blockchain" in a long-term and strategic manner, and the investment will exceed that of all other countries. He wrote in the report: "Most of China's projects are driven by top management who use the blockchain as a strategic weapon rather than a productivity tool."

Although China has become one of the anti-encryption countries, the initial public offering of virtual currency (ICO) and the legal exchange of bitcoin were banned at the end of 2017, but the country has been active in the construction of encryption infrastructure. In March 2018, the Financial Times reported that the number of patent applications for blockchain technology submitted to the World Intellectual Property Organization (WIPO) in 2017 was the largest in China.

Since then, the blockchain has been the main focus of China's development. As of April 2019, China's blockchain projects ranked the world's leading.

However, China's strict encryption policy seems to have not been relaxed so far, and social media giants and payment service provider WeChat banned encrypted transactions in the May 2019 payment policy. (than push)